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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio news.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest out of Venezuela. President

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Speaker 3: Trump says the current Venezuelan government is turning over thirty

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Speaker 3: to fifty million barrels of sanctioned oil to the US.

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Speaker 3: The president announced in a social media post that the

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Speaker 3: cargoes will be sold at market prices to benefit both countries,

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Speaker 3: but Bloomberg Steven Stepchinski reports he gave few other details.

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Speaker 4: Where's this oil going to come from?

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Speaker 5: Right?

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Speaker 4: He said as much as fifty million barrels, but he

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Speaker 4: did say sanctioned oil, which I think indicates it might

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Speaker 4: not be the Chevron share. So Chevron is able to operate.

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Speaker 4: They produce about twenty five percent of Venezuela's oil and

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Speaker 4: they've got a waiver so they're not sanctioned. So this

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Speaker 4: is likely the other supply that comes out of the country.

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Speaker 3: Bloomberg Steven Stepchinsky reports the oil would be worth up

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Speaker 3: to two point eight billion dollars in present up to

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Speaker 3: fifty days of Venezuelan production before the partial blockade of

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Speaker 3: the country. Sources tell Bloomberg News president Trump could meet

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Speaker 3: with energy executives at the White House this week as

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Speaker 3: he seeks their help in rebuilding Venezuela's oil industry.

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Speaker 2: Nathan, a delivery of Venezuelan oil to the US would

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Speaker 2: be a blow to China. It's been the top buyer

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Speaker 2: of the country's crude. Now, China's foreign ministry is accusing

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Speaker 2: the US of a quote bullying act. That's after ABC

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Speaker 2: News reported that the White House has told Venezuela to

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Speaker 2: kick China, Russia, Iran, and Cuba out of the country

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Speaker 2: and severe economic ties. The New York Times is reporting

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Speaker 2: the US is also pressuring Interim President Delci Rodriguez to

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Speaker 2: force out spies and military personnel from those countries. China

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Speaker 2: says it has legitimate rights in Venezuela which must be protected.

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Speaker 3: And Karen the interventions led to concerns about other US

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Speaker 3: foreign policy plans. The White House says President Trump will

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Speaker 3: not rule out the use of military force to acquire Greenland.

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Speaker 3: Let's bring in Bloomberg's John Tuck or at the very

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Speaker 3: latest on that, John and Nathan.

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Speaker 6: Whitehouse Press Secretary Caroline Levitt said in a statement that

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Speaker 6: President Trump and his advisors are discussing a range of options.

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Speaker 6: Levitt added, quote utilizing the US military is always an option.

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Speaker 6: This morning, on Bloomberg Television, the Danish parliament Deputy Speaker

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Speaker 6: Lawrence Christian bra reacted.

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Speaker 7: Well, people are nervous. You know, we haven't experienced this before,

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Speaker 7: and certainly not from an ally, so of course there's uncertainty,

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Speaker 7: nervousness to some extent the anger.

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Speaker 6: Also a few minutes ago on Bloomberg Television, a former

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Speaker 6: French Prime Minister Dominique de Viillipan spoke for many in

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Speaker 6: Europe when he.

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Speaker 8: Had this to say, the willingness to go forward and

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Speaker 8: to attack the sovereignty of Greenland would be a red

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Speaker 8: line for the Europeans, and the Europeans of course, I

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Speaker 8: believe should say and would say that in no case

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Speaker 8: they will recognize any sovereignty on Greenland.

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Speaker 6: Well, he says, it would be an attack on European soil.

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Speaker 6: Secretary of State Rubio downplay the notion of military action

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Speaker 6: and briefing with lawmakers earlier this week, instead signaling that

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Speaker 6: an invasion was not imminent and that the goal was

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Speaker 6: to buy the island from Denmark. Other US officials have

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Speaker 6: only continued to intensify their rhetoric. In an interview with CNN,

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Speaker 6: the White House Deputy Chief of Staff Stephen Miller said

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Speaker 6: that in a world governed by strength, the US has

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Speaker 6: a right to take the territory. In New York Home,

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Speaker 6: John Tucker, Bloomberg Radio.

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Speaker 2: All right, John, thank you well. Turning to Washington now,

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Speaker 2: President Trump told House Republicans that they should turn around

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Speaker 2: their political fortunes ahead of November's midterm elections. The President

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Speaker 2: warren that if Democrats retake control of Congress, he would

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Speaker 2: be impeached for a third time. You got to win

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Speaker 2: the midterms, because if we don't win the midterms, it's

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Speaker 2: just going to be I mean, they'll find a reason

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Speaker 2: to impeach me. I'll get impeached. President Trumps rest exasperation

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Speaker 2: with voters who have given him poor marks on his

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Speaker 2: stewardship of the country.

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Speaker 3: Turning to the markets now, Karen, both the Dow and

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Speaker 3: S and P five hundred enter the day in record territory.

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Speaker 3: Amanda Gotti is chief investment officer at PNC Asset Management Growth.

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Speaker 9: Just like we didn't pull the ripcord and get overly

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Speaker 9: defensive in the spring of last year. There's no reason

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Speaker 9: to make material changes to portfolios as we start out

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Speaker 9: the new year. So we're feeling pretty good about how

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Speaker 9: we're starting out the new year. I think the recurring

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Speaker 9: theme that investors really need to be focused on is

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Speaker 9: the purple haze of policy uncertainty. It was the biggest

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Speaker 9: driver of the market last year. I think maybe for

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Speaker 9: different reasons, it will still be the primary driver of

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Speaker 9: markets this year.

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Speaker 3: It's Amanda Gotti at PNC in Bloomberg's latest Markets Pulse

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Speaker 3: survey indicates most investors see further stock gains this year.

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Speaker 3: Sixty percent of respondents predict the S and P five

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Speaker 3: hundred will climb as much as twenty percent in twenty

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Speaker 3: twenty six.

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Speaker 2: Well, Nathan, let's head to Las Vegas now, where we

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Speaker 2: continue our week law coverage of the CEES trade show

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Speaker 2: and videos. Says it has seen a strong demand from

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Speaker 2: China for its H two hundred ships, but the company

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Speaker 2: is still waiting for approvals from both Washington and Beijing

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Speaker 2: before sales can start. In video, CEO Jensen Wong spoke

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Speaker 2: with Bloomberg's Ed Ludlow about communication with the Chinese government.

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Speaker 10: I haven't spoken directly to them, but ultimately the way

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Speaker 10: they'll communicate through us to us will be through the companies.

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Speaker 10: If the companies are allowed to buy in video products

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Speaker 10: in China, then they'll be strong demand.

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Speaker 2: Evidia CEO Jensen Wong Tail's Bloomberg It's revenue forecast has

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Speaker 2: gotten brighter due to strong demand and large customer deals.

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Speaker 3: Man Ludlow also sat down with the CEO of Advanced

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Speaker 3: micro Devices Karen That's after the company announced a new

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Speaker 3: ship for corporate data center use, and the CEO, Lisa Sue,

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Speaker 3: spoke about the ongoing use of artificial intelligence.

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Speaker 11: We're in this place where AI is at a reflect

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Speaker 11: inflection point. We're seeing AI now in every part of compute.

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Speaker 11: We see it in the largest models, you know, when

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Speaker 11: you're thinking about things like traction, PT and Gemini and Grock.

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Speaker 11: You know, we're also seeing many use cases in new

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Speaker 11: capabilities like you know, video production, entertainment, healthcare where you're

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Speaker 11: doing drug discovery, all of these various things.

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Speaker 3: And you can catch Bloomberg Tech host ed Ludlow's full

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Speaker 3: interviews with AMD CEO Lisa Sue and in video bos

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Speaker 3: Jensen Wang on the Bloomberg Podcast channel on YouTube.

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Speaker 2: And finally, Nathan a pretty nice payday for the new

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Speaker 2: CEO at Berkshire Hathaway. The conglomerate, says greg Abel will

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Speaker 2: earn an annual cash salary of twenty five million dollars

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Speaker 2: that for andclipses the one hundred thousand dollars that is

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Speaker 2: predecessor Warren Buffett earned for decades in the role. Buffett

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Speaker 2: seated the CEO role to Able this month, and the

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Speaker 2: billionaire is still serving as chairman of the company. Time

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Speaker 2: now for look at some of the other stories making

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Speaker 2: news in New York and around the world. Can forever

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Speaker 2: joined by Blueberry's Michael Barr Michael good Morning.

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Speaker 5: Good morning, Karen. House and Senate Democrats gathered on the

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Speaker 5: steps of the US Capital to mark five years since

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Speaker 5: the January sixth attack on the Capitol. Senate Minority Leader

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Speaker 5: Chuck Schumer gave brief remarks, thanking the police officers who

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Speaker 5: responded that day and excoriating President Trump for the violent

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Speaker 5: mob action.

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Speaker 7: Five years ago, a vicious mob tried to undo American democracy.

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Speaker 5: Also giving remarks, House Minority Leader Hakim Jeffries, and I have.

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Speaker 12: A simple message for the violent mob of insurrectionists.

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Speaker 5: Donald Trump may have pardoned your crimes, but only God

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Speaker 5: can pardon your sin. A small group of demonstrators led

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Speaker 5: by former Proud Boys leader Enrique Terrio, gathered in Washington

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Speaker 5: to mark January sixth, calling it the Ashley Babbitt Memorial March.

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Speaker 5: She was killed inside the Capitol as rioters tried to

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Speaker 5: break into the House chamber. Terrio also called on the

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Speaker 5: administration to punish officials who investigated the January sixth rioters.

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Speaker 12: We're one year into this administration and we haven't seen

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Speaker 12: a single deep state arrest. So I call on Attorney

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Speaker 12: General Pam Bondi to do her job.

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Speaker 5: Some in the ground clash with counter demonstrators as they

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Speaker 5: marched to the hill. The man identified as the shooter

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Speaker 5: who killed two Brown University students and an MIT professor

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Speaker 5: planned the attack for years and left behind videos in

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Speaker 5: which he confessed to the murders but gave no motive.

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Speaker 5: Claudio Neves Valente, who was forty eight, is a former

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Speaker 5: Brown student in Portuguese national He was found dead in

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Speaker 5: a New Hampshire storage facility after he killed two students

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Speaker 5: and wounded nine others in an engineering building on December thirteenth.

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Speaker 5: Two days later, he killed the professor in his home

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Speaker 5: in the Boston suburb of Brookline. Nick Reiner is set

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Speaker 5: to be arraigned in court to death. He is charged

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Speaker 5: in the stabbing death of his parents. Hollywood director Rob

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Speaker 5: Reiner and photographer Michelle Singer. Global News twenty four hours

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Speaker 5: a day and whenever you want it with the Bloomberg

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Speaker 5: News Now Michael Barr and this is Bloomberg Karen.

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Speaker 1: Thanks Michael.

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Speaker 2: A time now for our Bloomberg Sports Update, and for

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Speaker 2: that we bring in John Stashauer.

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Speaker 5: Thanks Darry.

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Speaker 13: John Harbrough, coachs of Baltimore Ravens for eighteen seasons went

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Speaker 13: to the playoffs twelve times, would have gone this year

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Speaker 13: had his kicker made a field goal the other night. Instead,

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Speaker 13: the Ravens finished eight to nine, and they fired the

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Speaker 13: sixty four year old Harbaugh. Dallas fired defense of coreator

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Speaker 13: Matt Eberflus after just one season. Detroit fired its offensive

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Speaker 13: countor John Morton after one season. Washington fired both of

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Speaker 13: its coordinators. Blow out in the NHL That Devil's bit

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Speaker 13: the Islanders nine and uphing at the Bloomberg Sports Update.

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Speaker 2: Stay with us. More from Bloomberg Day Break coming up

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Speaker 2: after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg and the Bloomberg Business app.

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Speaker 1: This is Bloomberg Daybreak.

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Speaker 5: Good morning.

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Speaker 3: I'm Nathan Hager. Oil is on the way. President Trump

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Speaker 3: says Venezuela is turning over up to fifty million barrels

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Speaker 3: of sanctioned crude to be sold at market prices, the

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Speaker 3: latest sign that the US is extending economic influence following

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Speaker 3: the ouster of Nicolas Madoro. For more, we're joined by

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Speaker 3: Bloomberg DC Breaking News editor Alexander Pearson. Alex Good morning.

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Speaker 3: What do we know about this oil shipment that President

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Speaker 3: Trump says is on the way?

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Speaker 5: Good morning, Good morning, Nathan.

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Speaker 14: Yeah, so we know that it'll be about up to

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Speaker 14: fifty million barrels, which current market prices would translate to

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Speaker 14: about two point eight billion dollars. So it's not a

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Speaker 14: huge amount, but it's also not a small amount, and

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Speaker 14: we don't really have that much in the way of

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Speaker 14: details other than Trump did say that the proceeds would

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Speaker 14: go to the US and to Venezuela's benefit, and it

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Speaker 14: appears to be a sort of first delivery of first

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Speaker 14: step towards what the Trump and Minster's longer term goal is,

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Speaker 14: which is to ramp up oil production in Venezuela to

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Speaker 14: the point where it becomes a source of steady supply

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Speaker 14: for the United States.

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Speaker 3: Oh, we know that the President wants US oil companies

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Speaker 3: to be involved in that rebuilding. Have we gotten any

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Speaker 3: further information about the White House effort to get them

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Speaker 3: more involved.

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Speaker 14: Yeah, So the White House has made this very clear

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Speaker 14: that they want US oil companies to go in and

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Speaker 14: invest in Venezuela's oil infrastructure be a big player in

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Speaker 14: producing the oil there. And we do know that the

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Speaker 14: Energy Secretary is planning to meet with executives from many

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Speaker 14: oil companies in the US. And there are also discussions

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Speaker 14: between the White House and many oil companies about Trump

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Speaker 14: himself meeting with executives and that meeting could happen as

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Speaker 14: soon as tomorrow or Friday. So they're certainly reaching out

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Speaker 14: and trying to get support for this overall initiative.

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Speaker 3: Now, the executives certainly want assurances, wouldn't they that the

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Speaker 3: situation in Venezuela is safe? Following Maduro's ouster What more

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Speaker 3: do we know about the situation on the ground, there.

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Speaker 14: That's right. So the biggest sort of question mark for

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Speaker 14: this overall initiative is whether the oil companies will be

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Speaker 14: willing to follow Trump's lead and actually go in. There

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Speaker 14: are some there are huge challenges to this. On the

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Speaker 14: one hand, it will require tens of billions of dollars

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Speaker 14: to revive what is actually quite a moribund oil industry

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Speaker 14: in Venezuela. There's been a lot of neglect, a lot

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Speaker 14: of the machinery is very old and decrepit, and that

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Speaker 14: will require a lot of investment over many years. So

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Speaker 14: there's there's a time element to this. But beyond that,

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Speaker 14: the political situation is still very unclear. We don't really

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Speaker 14: know right as of now, you know where Venezuela is heading.

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Speaker 14: It hasn't really settled. And for any oil company, that's

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Speaker 14: that's a huge risk. They want to make sure, obviously,

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Speaker 14: if they invest all of this money over many years,

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Speaker 14: that it is going to be safe, that the US will,

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Speaker 14: you know, ensure that it remains safe.

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Speaker 3: Well, we're hearing a lot of reports as well that

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Speaker 3: the White House is putting pressure on Venezuela to work

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Speaker 3: more directly with the US and even cut ties with

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Speaker 3: some of its more traditional partners like China and Russia.

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Speaker 3: What kind of reaction are we getting from those reports.

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Speaker 14: So we did get a reaction from China this morning.

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Speaker 14: And China is notable because it is the biggest buyer

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Speaker 14: of Venezuelan crude and also the biggest credit to Venezuela,

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Speaker 14: and the Chinese Foreign Ministry earlier said that, you know,

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Speaker 14: this was a bullying act by the United States to

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Speaker 14: have told Venezuela this, and that it has legitimate interests

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Speaker 14: in Venezuela. So this political realignment that the Trump administration

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Speaker 14: is also trying to get out of Venezuela is obviously

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Speaker 14: not going down well with Venezuela's traditional allies.

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Speaker 3: Okay, in our last minute or so, Alex. While this

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Speaker 3: pressure continues around Venezuela, we're seeing the White House amp

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Speaker 3: up the rhetoric as well about acquiring Greenland. How to

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Speaker 3: take the latest statement on that from the White House.

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Speaker 14: Yeah, it was a notable statement from the White House

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Speaker 14: Press secretary yesterday. She said that the White House was

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Speaker 14: considering a range of options and did not rule out

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Speaker 14: that a military option would be one of those. She

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Speaker 14: didn't specify exactly what that would mean, but the statement

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Speaker 14: alone was, you know, eyebrow raising, especially in Europe, where

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Speaker 14: there is a lot of anxiety about what Trump administration

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Speaker 14: officials have said in recent days about taking over Greenland.

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Speaker 14: That was temperted a little bit by reports that Marco Rubio,

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Speaker 14: the Sectuary of State, said that this was not the idea.

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Speaker 14: The idea would be to purchase Greenland. But the uncertainty

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Speaker 14: alone is causing a lot of anxiety and emotions, particularly

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Speaker 14: in Denmark, which actually has sovereignty over Greenland and has

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Speaker 14: said that this is completely unacceptable.

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